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[Q1 REVIEW]
Personal Portfolio: +17.29%
SPX -4.33%
(SEE COMMENTS FOR MONTHLY STATS)
JANUARY: TRENDS GALORE
+Identified and captured strong momentum in precious metals, small caps, and LATAM
-Selectivity could have been improved. I finished the month +8.3R with only a 33% winning percentage. A strong month could have been even stronger by cutting down on some unneeded paper cuts.
FEBRUARY: CHOP, CHOP, CHOP
+I have no issue with cutting losses quickly (my average loss is relatively small at -0.34R)
-My kryptonite is death by a thousand paper cuts, and I was slow to adjust down my trading frequency as markets fell into distribution
-I made the leap to full-time trading mid-month, and there were some initial growing pains as I sorted out my newly-expanded trading universe.
MARCH: FALSE START…AND THEN DROP!
+Exercised patience and discipline in cutting and re-entering short positions multiple times after false starts earlier in the month
+Selectivity improved SIGNIFICANTLY as I became accustomed to my broader universe.
-Gave back more than I would prefer on my short positions into the end of the month. Indices hit higher-timeframe targets while my positions showed little signs of upside reversal…until they rocketed higher, pulled up by the indices.
NOTE: as of 4/3 I still have 4 open positions, all of which are currently in profit, so the profit factor and total return should end up higher than the below chart shows.
Things I did well this quarter -
• Higher timeframe bias was evidence-based and consistently correct
• Disciplined in selling into strength in the face of extreme sentiment (specifically at the peak in silver, copper, EWZ)
• Disciplined in keeping losses small and taking multiple tries at an idea where appropriate (specifically short positions in March)
Things I did not do well this quarter -
• Often jumped the gun when I had a clear higher timeframe bias, leading me to "search" for a way to participate and resulting in taking unnecessary small losses and spending mental capital in the process
• Slow to adjust down my trade frequency when the market environment shifted from trend to range in February. I pushed lesser-quality setups instead of remaining on the sidelines.
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